PLANSPONSOR Weekend Newsdash
Week ending January 15th, 2016
Happy Friday, PLANSPONSOR readers! Of course, one big news item in general this week was the President’s State of the Union address, and while he didn’t focus much on retirement savings issues, some in the benefits industry were concerned about what he didn’t say. It was a victorious week for plan sponsors in the courts. Principal Financial Group was handed a win in an excessive fee suit, JP Morgan was also handed a win in a suit challenging its 401(k) plan’s company stock investment, and a court blessed an employer’s wellness program in a lawsuit brought by the Equal Employment Opportunity Commission (EEOC). We covered the new fee challenge for plan sponsors—levelization—and more, as you’ll find in this week’s edition of PLANSPONSOR Weekend.
Editor's choice
Court Sides with Plan Sponsor in Wellness Program Challenge
Flambeau, Inc.’s requirement that employees participate in a wellness program to participate in its health plan is covered by an ADA safe harbor, a district court found.Read more >
JP Morgan Granted Win in Stock Drop Suit
Participants in JP Morgan’s 401(k) plan failed to state a claim that the company acted imprudently by keeping company stock in the plan after a trading scandal.Read more >
No Clear Benefits Direction Given by President
For some in the employee benefits industry, what President Obama didn’t say in his State of the Union address was the concern.Read more >
PBGC Issues Final Rule for Multiemployer Plan Partitions
The final rule includes minor changes to an interim final rule issued last year in response to public comments.Read more >
Excessive Fee Claims Against Principal Dismissed
Among other things, the 8th Circuit found Principal’s adherence to its agreement with a plan sponsor does not implicate any fiduciary duty.Read more >
Share the good news with a friend! Pass the Dash along – and tell your friends/associates they can sign up for their own copy.Read more >
EARN Act Clears Senate Finance Committee

For the second time in a little more than a week, a key Senate committee has advanced an important piece of retirement plan reform legislation for a vote by the full chamber.

Plaintiffs Rebuffed by Appeals Court in Active Management Lawsuit

The defendant in the case, CommonSpirit Health, was accused of committing fiduciary breaches in the provision of an active target-date fund suit—allegations rejected both in district court and on appeal.

2021 Recordkeeping Survey
TRIVIAL PURSUITS: How Many States Are in More Than One Time Zone?
Some states are in more than one time zone.
TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?”

Some may describe the arrival of the coronavirus as a “watershed moment.”

Editorial: Alison Cooke Mintzer


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